12-9-118. Repurchase of inventory upon termination.
(a) Whenever any malt beverage distributor enters into a franchise agreement with a manufacturer in which the distributor agrees to maintain an inventory of malt beverages and the franchise is subsequently terminated, the manufacturer shall repurchase the inventory as provided in this act. If the distributor has any outstanding debts to the manufacturer, then the repurchase amount may be credited to the distributor's account.
(b) The manufacturer shall repurchase that inventory previously purchased from him and held by the distributor on the date of termination of the contract. The manufacturer shall pay one hundred percent (100%) of the distributor's laid-in cost, payable when the product is returned to the manufacturer free and clear of all liens, claims and charges created or permitted by the distributor.
(c) Upon payment of the repurchase amount to the distributor, the title and right of possession to the repurchased inventory shall be transferred to the manufacturer.
(d) A distributor shall not keep any inventory except with the consent of the manufacturer and the distributor's agreement that such product will be maintained and sold in accordance with the manufacturer's product handling standards.
(e) If any manufacturer shall fail or refuse to repurchase any inventory covered under the provisions of this act within sixty (60) days after termination of a distributor's contract, he shall be civilly liable for one hundred percent (100%) of the current wholesale price of the inventory plus any freight charges paid by the distributor, the distributor's reasonable attorney's fees, court costs and interest on the current wholesale price computed at the legal interest rate.
Structure Wyoming Statutes
Title 12 - Alcoholic Beverages
Article 1 - Relations Between Malt Beverage Distributors and Manufacturers
Section 12-9-101 - Legislative Findings and Intent.
Section 12-9-102 - Definitions.
Section 12-9-103 - Application of Act.
Section 12-9-104 - Unfair and Prohibited Acts.
Section 12-9-106 - Good Cause for Terminating Agreement; Rights to Cure.
Section 12-9-107 - Burden of Proof.
Section 12-9-108 - Notice for Terminating an Agreement.
Section 12-9-109 - Conditions and Notice Required.
Section 12-9-110 - Discontinuance of Production or Distribution.
Section 12-9-111 - Effort Required by Distributor.
Section 12-9-112 - Waiver Prohibited.
Section 12-9-113 - Agreement Subject to Act.
Section 12-9-114 - Agreements Binding on Successor.
Section 12-9-115 - Reasonable Compensation.
Section 12-9-117 - Contracts and the Validity Thereof.
Section 12-9-118 - Repurchase of Inventory Upon Termination.